PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Receives $2.00 Consensus Target Price from Brokerages

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) have been given an average rating of “Hold” by the five research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $2.00.

Several analysts recently commented on the company. Wall Street Zen lowered PLAYSTUDIOS from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Zacks Research cut PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Benchmark reduced their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday, December 29th.

Institutional Investors Weigh In On PLAYSTUDIOS

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in PLAYSTUDIOS by 5,260.6% during the first quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock valued at $170,000 after purchasing an additional 131,515 shares in the last quarter. Jane Street Group LLC bought a new position in shares of PLAYSTUDIOS in the first quarter worth about $203,000. Strs Ohio purchased a new position in shares of PLAYSTUDIOS during the 1st quarter valued at about $209,000. Los Angeles Capital Management LLC grew its stake in shares of PLAYSTUDIOS by 16.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 174,479 shares of the company’s stock valued at $229,000 after acquiring an additional 24,715 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in PLAYSTUDIOS by 13.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company’s stock worth $2,127,000 after acquiring an additional 194,204 shares in the last quarter. 37.52% of the stock is currently owned by hedge funds and other institutional investors.

PLAYSTUDIOS Price Performance

Shares of MYPS opened at $0.62 on Thursday. The firm’s 50 day simple moving average is $0.65 and its 200 day simple moving average is $0.88. PLAYSTUDIOS has a 1-year low of $0.57 and a 1-year high of $1.91. The company has a market capitalization of $78.30 million, a P/E ratio of -2.14 and a beta of 0.89.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its earnings results on Monday, November 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). PLAYSTUDIOS had a negative return on equity of 8.71% and a negative net margin of 15.10%.The company had revenue of $57.65 million during the quarter, compared to analysts’ expectations of $58.77 million. On average, equities analysts anticipate that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.